Mirant cashes out of Shandong International Power

The Chinese power producer loses its strategic investor.

The largest power producer in the US sold down its entire stake in Shandong International Power Development SIPD yesterday Tuesday as part of a strategy to dispose of non-core assets across Asia.

BNP Paribas Peregrine was sole placement agent for the 9.99% stake, which Mirant purchased at the time of SIPD's flotation in June 1999 at HK$1.73 per share. The 525.083 million shares were priced at a 10% discount to a HK$2.025 close, raising HK$1.063 billion...

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